Kuala Lumpur, Malaysia, 21 February 2017 – The signing ceremony of the contract for the realization of a High Density Polyethylene Unit took place today at PETRONAS’ headquarters in Kuala Lumpur. The Unit is part of the Pengerang Integrated Complex (PIC), located in the southeastern region of Johor.
The contract, already announced in November 2016, has an overall value of approximately USD 328 million and will be carried out on an EPCC basis by a Joint Venture between Tecnimont (65%) and China HuanQiu Contracting & Engineering Corporation Ltd (35%). As part of PIC, the HDPE unit will have a capacity of 400,000 t/y (tons per year), providing a significant increase to the overall domestic production of plastics derivatives in order to meet the internal demand. PIC is the largest downstream investment to date in the country, aimed at delivering future sustainable growth in the hydrocarbon value chain of southeastern Asia.
The ceremony has been attended by Ir. Dr. Colin Wong Hee Huing PETRONAS Senior Vice President and Chief Executive Officer of PETRONAS Refinery and Petrochemical Corporation Sdn Bhd (PRPC), Pierroberto Folgiero Maire Tecnimont Group CEO, Ms. Wang Xinge HQC President & CEO, and other senior officials.
Pierroberto Folgiero, Maire Tecnimont CEO, commented: “We are really honored to be an actor in this strategic initiative. PETRONAS’ PIC will shape Malaysia’s development outlook, giving a strong boost to several industrial sectors. Moreover, this signing follows up the contract for the two polypropylene units awarded in 2015 to the same joint venture by Petronas: it enables us to expand our footprint in the South East Asian downstream market, as well as foster a fruitful relationship with such a prestigious client.”
Maire Tecnimont S.p.A.
Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas, Petrochemicals and Fertilisers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 30 different countries, numbering around 45 operative companies and a workforce of about 4,900 employees, of whom over half work abroad. For more information: www.mairetecnimont.com.
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